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CF Industries（CF）与加拿大国家铁路（CP）财务数据对比。点击上方公司名可切换其他公司
加拿大国家铁路的季度营收约是CF Industries的1.5倍（$2.8B vs $1.9B），加拿大国家铁路净利率更高（27.7% vs 26.4%，领先1.2%），CF Industries同比增速更快（22.8% vs 1.3%），加拿大国家铁路自由现金流更多（$537.3M vs $313.0M），过去两年CF Industries的营收复合增速更高（12.8% vs 5.6%）
CF Industries Holdings Inc.是美国知名农用肥料生产及分销商，1946年成立时名为中央农民肥料公司，总部位于芝加哥郊区的伊利诺伊州诺斯布鲁克。公司主营氨、尿素、硝酸铵等肥料产品，最初为区域农业供应合作社联盟，成立56年后完成股份化改制，转为公开上市企业。
加拿大国家铁路是加拿大一级货运铁路企业，总部位于魁北克省蒙特利尔市，业务覆盖加拿大全境及美国中西部、南部区域，是加拿大两大主力货运铁路运营商之一，与加拿大太平洋堪萨斯城铁路公司齐名。
CF vs CP — 直观对比
营收规模更大
CP
是对方的1.5倍
$1.9B
营收增速更快
CF
高出21.5%
1.3%
净利率更高
CP
高出1.2%
26.4%
自由现金流更多
CP
多$224.3M
$313.0M
两年增速更快
CF
近两年复合增速
5.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $2.8B |
| 净利润 | $495.0M | $786.2M |
| 毛利率 | 40.9% | — |
| 营业利润率 | 33.0% | 41.4% |
| 净利率 | 26.4% | 27.7% |
| 营收同比 | 22.8% | 1.3% |
| 净利润同比 | 26.3% | -10.3% |
| 每股收益（稀释后） | $2.56 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CFCP
| Q4 25 | $1.9B | $2.8B | ||
| Q3 25 | $1.7B | $2.7B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.7B | $2.8B | ||
| Q4 24 | $1.5B | $2.8B | ||
| Q3 24 | $1.4B | $2.6B | ||
| Q2 24 | $1.6B | $2.6B | ||
| Q1 24 | $1.5B | $2.5B |
净利润CFCP
| Q4 25 | $495.0M | $786.2M | ||
| Q3 25 | $460.0M | $671.6M | ||
| Q2 25 | $492.0M | $900.8M | ||
| Q1 25 | $351.0M | $664.3M | ||
| Q4 24 | $392.0M | $876.7M | ||
| Q3 24 | $341.0M | $611.0M | ||
| Q2 24 | $506.0M | $660.6M | ||
| Q1 24 | $238.0M | $565.8M |
毛利率CFCP
| Q4 25 | 40.9% | — | ||
| Q3 25 | 38.1% | — | ||
| Q2 25 | 39.9% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 32.4% | — | ||
| Q2 24 | 43.2% | — | ||
| Q1 24 | 27.8% | — |
营业利润率CFCP
| Q4 25 | 33.0% | 41.4% | ||
| Q3 25 | 35.0% | 36.8% | ||
| Q2 25 | 34.3% | 36.6% | ||
| Q1 25 | 27.4% | 35.0% | ||
| Q4 24 | 28.9% | 40.6% | ||
| Q3 24 | 26.6% | 34.3% | ||
| Q2 24 | 40.6% | 35.4% | ||
| Q1 24 | 20.6% | 32.9% |
净利率CFCP
| Q4 25 | 26.4% | 27.7% | ||
| Q3 25 | 27.7% | 25.3% | ||
| Q2 25 | 26.0% | 33.6% | ||
| Q1 25 | 21.1% | 24.2% | ||
| Q4 24 | 25.7% | 31.2% | ||
| Q3 24 | 24.9% | 23.9% | ||
| Q2 24 | 32.2% | 25.3% | ||
| Q1 24 | 16.2% | 22.2% |
每股收益（稀释后）CFCP
| Q4 25 | $2.56 | — | ||
| Q3 25 | $2.19 | — | ||
| Q2 25 | $2.37 | — | ||
| Q1 25 | $1.85 | — | ||
| Q4 24 | $1.86 | — | ||
| Q3 24 | $1.55 | — | ||
| Q2 24 | $2.30 | — | ||
| Q1 24 | $1.03 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $134.3M |
| 总债务越低越好 | $3.2B | $14.6B |
| 股东权益账面价值 | $4.8B | $33.5B |
| 总资产 | $14.1B | $62.7B |
| 负债/权益比越低杠杆越低 | 0.66× | 0.43× |
8季度趋势，按日历期对齐
现金及短期投资CFCP
| Q4 25 | — | $134.3M | ||
| Q3 25 | — | $300.0M | ||
| Q2 25 | — | $583.3M | ||
| Q1 25 | — | $507.4M | ||
| Q4 24 | — | $539.5M | ||
| Q3 24 | — | $338.0M | ||
| Q2 24 | — | $406.6M | ||
| Q1 24 | — | $378.9M |
总债务CFCP
| Q4 25 | $3.2B | $14.6B | ||
| Q3 25 | $3.0B | $15.8B | ||
| Q2 25 | $3.0B | $15.5B | ||
| Q1 25 | $3.0B | $15.4B | ||
| Q4 24 | $3.0B | $14.5B | ||
| Q3 24 | $3.0B | $13.7B | ||
| Q2 24 | $3.0B | $13.8B | ||
| Q1 24 | $3.0B | $13.7B |
股东权益CFCP
| Q4 25 | $4.8B | $33.5B | ||
| Q3 25 | $4.8B | $33.4B | ||
| Q2 25 | $5.0B | $33.7B | ||
| Q1 25 | $4.8B | $35.2B | ||
| Q4 24 | $5.0B | $35.0B | ||
| Q3 24 | $5.2B | $32.2B | ||
| Q2 24 | $5.5B | $32.0B | ||
| Q1 24 | $5.4B | $31.3B |
总资产CFCP
| Q4 25 | $14.1B | $62.7B | ||
| Q3 25 | $14.2B | $63.3B | ||
| Q2 25 | $13.8B | $62.2B | ||
| Q1 25 | $13.3B | $64.3B | ||
| Q4 24 | $13.5B | $64.1B | ||
| Q3 24 | $13.8B | $60.0B | ||
| Q2 24 | $13.8B | $60.4B | ||
| Q1 24 | $13.9B | $59.6B |
负债/权益比CFCP
| Q4 25 | 0.66× | 0.43× | ||
| Q3 25 | 0.61× | 0.47× | ||
| Q2 25 | 0.60× | 0.46× | ||
| Q1 25 | 0.62× | 0.44× | ||
| Q4 24 | 0.60× | 0.41× | ||
| Q3 24 | 0.57× | 0.42× | ||
| Q2 24 | 0.54× | 0.43× | ||
| Q1 24 | 0.55× | 0.44× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $539.0M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $313.0M | $537.3M |
| 自由现金流率自由现金流/营收 | 16.7% | 18.9% |
| 资本支出强度资本支出/营收 | 12.1% | 20.2% |
| 现金转化率经营现金流/净利润 | 1.09× | 1.42× |
| 过去12个月自由现金流最近4个季度 | $1.8B | $1.6B |
8季度趋势，按日历期对齐
经营现金流CFCP
| Q4 25 | $539.0M | $1.1B | ||
| Q3 25 | $1.1B | $930.0M | ||
| Q2 25 | $563.0M | $989.1M | ||
| Q1 25 | $586.0M | $843.9M | ||
| Q4 24 | $420.0M | $1.2B | ||
| Q3 24 | $931.0M | $928.6M | ||
| Q2 24 | $475.0M | $932.9M | ||
| Q1 24 | $445.0M | $741.0M |
自由现金流CFCP
| Q4 25 | $313.0M | $537.3M | ||
| Q3 25 | $717.0M | $302.2M | ||
| Q2 25 | $318.0M | $446.8M | ||
| Q1 25 | $454.0M | $324.9M | ||
| Q4 24 | $223.0M | $702.3M | ||
| Q3 24 | $792.0M | $382.5M | ||
| Q2 24 | $391.0M | $343.1M | ||
| Q1 24 | $347.0M | $356.2M |
自由现金流率CFCP
| Q4 25 | 16.7% | 18.9% | ||
| Q3 25 | 43.2% | 11.4% | ||
| Q2 25 | 16.8% | 16.7% | ||
| Q1 25 | 27.3% | 11.8% | ||
| Q4 24 | 14.6% | 25.0% | ||
| Q3 24 | 57.8% | 15.0% | ||
| Q2 24 | 24.9% | 13.1% | ||
| Q1 24 | 23.6% | 14.0% |
资本支出强度CFCP
| Q4 25 | 12.1% | 20.2% | ||
| Q3 25 | 20.9% | 23.7% | ||
| Q2 25 | 13.0% | 20.2% | ||
| Q1 25 | 7.9% | 18.9% | ||
| Q4 24 | 12.9% | 19.3% | ||
| Q3 24 | 10.1% | 21.4% | ||
| Q2 24 | 5.3% | 22.6% | ||
| Q1 24 | 6.7% | 15.1% |
现金转化率CFCP
| Q4 25 | 1.09× | 1.42× | ||
| Q3 25 | 2.31× | 1.38× | ||
| Q2 25 | 1.14× | 1.10× | ||
| Q1 25 | 1.67× | 1.27× | ||
| Q4 24 | 1.07× | 1.42× | ||
| Q3 24 | 2.73× | 1.52× | ||
| Q2 24 | 0.94× | 1.41× | ||
| Q1 24 | 1.87× | 1.31× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CF
| Ammonia | $591.0M | 32% |
| UAN | $493.0M | 26% |
| Urea | $372.0M | 20% |
| Other | $244.0M | 13% |
| Other Products | $147.0M | 8% |
| Ammonium Nitrate Segment | $25.0M | 1% |
CP
暂无分部数据
